KUALA LUMPUR: Fund buying of Petronas-linked stocks enabled the FBM KLCI to cross the key 1,800 level early Thursday as analysts viewed the technical outlook for the  index has now turned positive.

At 9.11am, the KLCI was up six points or 0.33% to 1,804.11. Turnover was 186.04 million shares valued at RM103.31mil. There were 205 gainers, 114 losers and 199 counters unchanged.

Kenanga Research after the KLCI advanced 10.53 points to end at 1,798.11 on Tuesday, the overall technical outlook has now turned positive with the index trading above all key SMAs while other momentum indicators are showing meaningful upticks.

“From here, expect the index to trend higher towards resistance levels at 1,830 (R1) and 1,870 (R2).  Conversely, supports can be identified at 1,750 (S1) and 1,720 (S2),” it said.

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